Ann: Annual Report to shareholders, page-15

@BlackFX - interesting first post, what brings you to discuss 9Spokes? I wouldn't exactly call the departures of the CMO or CIO to be new news, given they didn't occur in the last 4 months.

@Davos007 - I think it is a bit simplistic to just say they are cooked, with $7m worth of revenue last year, they could simply realign their business expenses by cutting R&D / product development, reduce staff numbers, eliminate almost all their marketing and other costs (social media consulting fees to directors!) to align more closely with the amount of revenue coming in.

The banks (Barclays, RBC, etc) are the ones promoting the use of the dashboard product anyway. How many direct customers does 9Spokes have and what are those direct customers actually worth to 9Spokes at the moment? Pretty easy to figure out that they are not worth as much as a dashboard customer through a bank, as the bank pay us a license/software fee!

I am not sure why you think it has to be a US bank to take an equity stake....it could be Barclays, it could be RBC, it could be BNZ. If you were asking me, I would prefer to have no equity from any Banks, as they are our key customers and that may create conflicts. Of our existing clients, Deloitte might be one that leaves us with best position for further relationships with Banks globally.

If not from existing clients, some key NZ business figures, maybe a Rod Drury, would be ideal.

The quarterly will be important, I expect there will be a lot of positive news (why it couldn't be announced prior to this, I will never know!), with the key being a reduced cash burn relative to progress being made.